CapitaLand inks deal to manage Phnom Penh mall in Oxley's development The Peak

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CapitaLand inks deal to manage Phnom Penh mall in Oxley's development The Peak

DEVELOPER CapitaLand, through its wholly owned shopping mall business CapitaLand Retail, has signed an agreement to manage a mall in Cambodia's capital, Phnom Penh. The mall is the retail component of The Peak , an upcoming high-end integrated development majority owned by Singapore-based developer Oxley and Cambodian company Worldbridge Land.

The Peak, located the Chamkarmon district in central Phnom Penh, is a 55-storey freehold integrated development which houses an office tower, the country's first Shangri-La Hotel, two luxury residential towers with 1,014 apartment units and the mall, which will open in 2020.

CapitaLand will oversee asset planning, pre-opening and retail management for the five-storey mall, which has a gross floor area, excluding car park, of about 420,000 square feet, and net lettable area of about 260,000 sq ft, CapitaLand said in a filing with the Singapore Exchange on Tuesday.

Said Wilson Tan, CapitaLand Retail chief executive officer (CEO): "Given The Peak's strategic location in central Phnom Penh and high-grade building specifications, it is well-positioned to meet the requirements of quality retailers seeking to serve the growing aspirations of the city's community."

About The Peak Shoppes
Invest in the only CapitaLand managed mall for sale in the heart of Phnom Penh
Integrated with world famous 5-star Shangri-La
Enjoy high 55% nett guaranteed rental returns over 10 years (T&Cs apply)
Year 1 to 5 @ 5% Nett Guaranteed Rental per Annum
Year 6 to 10 @ 6% Nett Guaranteed Rental per Annum

Price guide of the The Peak Shoppes
Retail shops from only US$114K
Restaurants from only US$162K
Shops with waterpoint from only US$166K